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137
Dec 6, 2012
12/12
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tax. today this tax -- also known as the estate tax -- is set up at a top rate of 35%, with an exception for the first $5.1 million of the estate's value. well, those are the levels that congress set and the president agreed to in 2010. a republican house of representatives, democrat senate, as well as the president -- democrat in the white house. 2010. those are th levels are now setp dramatically to a top rate of 55% with an compe exemption fort the first $1 million. $1 million as you understands like a lot of money -- $1 million sounds like a lot of money until you start looking at family farms. farmers have a lot of assets such as land, buildings and livestock. those things are worth a lot of money for purposes of calculating the value of someone's estate. but they aren't liquid assets. you can't just spend a tractor. once a mom or dad dies in the farm family, the i.r.s. wants the death tax paid within nine months. the taxes collected -- though it is calculated on the big valuations fo
tax. today this tax -- also known as the estate tax -- is set up at a top rate of 35%, with an exception for the first $5.1 million of the estate's value. well, those are the levels that congress set and the president agreed to in 2010. a republican house of representatives, democrat senate, as well as the president -- democrat in the white house. 2010. those are th levels are now setp dramatically to a top rate of 55% with an compe exemption fort the first $1 million. $1 million as you...
64
64
Dec 6, 2012
12/12
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cuts get extended, the upper-income tax cuts go up. otherwise we don't get a deal and next year we come back in the thinking is the republicans will have more leverage because there will be another book on the debt ceiling will try to extract more concessions. i have to just tell you, that is a bad strategy for america. it's a bad strategy for businesses and it is not a game i will play. most of you are involved in discussions and watch the catastrophe that happen in august of 2011. everybody here is concerned about uncertainty. there's no uncertainty uncertainty that the prospect that the united states of america, the largest economy holds the worlds reserve current e. potentially default, do we give a basic notion that united states stands behind its obligations. we can't afford to go there again. this is just my opinion and the opinion of most of the books in my room. when i hear some on the other side suggesting to resolve the possibility of the perpetual court quarterly debt ceiling increases, the prices paid by the american peopl
cuts get extended, the upper-income tax cuts go up. otherwise we don't get a deal and next year we come back in the thinking is the republicans will have more leverage because there will be another book on the debt ceiling will try to extract more concessions. i have to just tell you, that is a bad strategy for america. it's a bad strategy for businesses and it is not a game i will play. most of you are involved in discussions and watch the catastrophe that happen in august of 2011. everybody...
130
130
Dec 5, 2012
12/12
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CSPAN2
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eye 130
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on another tax problem, tax fund, yes cut through all the jews rate against -- [inaudible] but surely it needs to be more robust. if it is going to be a meaningful priority, let's say to coordinate against corporate tax conjuring, surely has to start a reason to think the controls -- that he made in the last budget. >> first of all can i thank him for the support he has given for the decision to provide ultrafast broadband, and i want to congratulate the city for a very, very good did which competed against other bids across the uk. he's also right to say that we are helping the northern islands energy sector with decisions on the carbon price which i detest a semi-statement to announce but are in the book. am glad he acknowledges those. any more broadly what i would say to him is northern ireland will benefit, the rest of uk will benefit when we help people and work hard and want to get on with doing that with personal allowance, when we help people who are small businesses with fuel duty, we're doing all these things making sure they are outlined to the northern ireland's. >> with i
on another tax problem, tax fund, yes cut through all the jews rate against -- [inaudible] but surely it needs to be more robust. if it is going to be a meaningful priority, let's say to coordinate against corporate tax conjuring, surely has to start a reason to think the controls -- that he made in the last budget. >> first of all can i thank him for the support he has given for the decision to provide ultrafast broadband, and i want to congratulate the city for a very, very good did...
98
98
Nov 29, 2012
11/12
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CSPAN2
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tax and spend, not taxes to reduce deficits. taxes to fund new spending. that's why the budget, it puts us on track to have $25 trillion in total debt at the end of ten years, another almost $10 trillion in debt headed to the current debt level. so insofar as i can see, that tax-and-spend policy remains his goal today. the white house isn't planning to raise taxes to reduce the deficit, raise taxes under their plan to expand government. and that's not -- i don't believe congress will accept such a deal if that's what's going on in the secret negotiations. president obama campaigned on tax increases just on the wealthy, just on raising their rates, just only $800 billion in tax increases. but now the white house is demanding $1.6 trillion in tax increases. don't the american people have a right to see where those taxes fall, who this will impact and how much they are? shouldn't the president lay out his plan? the president of the united states, the only person who represents everybody in the country, will that remain a secret? will it just be revealed to us
tax and spend, not taxes to reduce deficits. taxes to fund new spending. that's why the budget, it puts us on track to have $25 trillion in total debt at the end of ten years, another almost $10 trillion in debt headed to the current debt level. so insofar as i can see, that tax-and-spend policy remains his goal today. the white house isn't planning to raise taxes to reduce the deficit, raise taxes under their plan to expand government. and that's not -- i don't believe congress will accept...
62
62
Nov 29, 2012
11/12
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CSPAN2
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eye 62
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the solution is tax reform that broadens the tax base by scaling back tax preferences and cutting the corporate rate. we could cut it to 25%, scale back the deductions, the credits, the exemptions and have a competitive territorial system and have it all be revenue neutral. there is such a proposal that has been scored by the joint committee on taxation here in congress. we know we can do it. we're not saying it's easy. some of these preferences of course on these loopholes are ones that are very difficult to reduce or eliminate, but it would be the right thing to do for our economy. i do think we have seen some signs of developing bipartisan consensus on this issue, and i'm hopeful that we will see the same movement for pro growth individual tax reform because reforming the entire code is critical to regaining competitiveness, spurring growth and producing the revenues we need to pay for important public priorities. the smart way to raise revenue then is not through tax rate hikes that threaten to shrink our economy but rather thoughts u tax reform designed to help grow the economy.
the solution is tax reform that broadens the tax base by scaling back tax preferences and cutting the corporate rate. we could cut it to 25%, scale back the deductions, the credits, the exemptions and have a competitive territorial system and have it all be revenue neutral. there is such a proposal that has been scored by the joint committee on taxation here in congress. we know we can do it. we're not saying it's easy. some of these preferences of course on these loopholes are ones that are...
110
110
Dec 4, 2012
12/12
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CSPAN2
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the nonpartisan tax policy center called it mat mathematicy impossible to give tax breaks to the rich without harming the middle class. this is something that former president clinton said during the campaign. it's arithmetic. given the choice between the millionaires and billionaires and the middle class, the republicans again sided with the wealthy of this country. their plan doesn't just keep rates low for the richest 2%, it actually lowers them further. the democrats' plan would protect 98% of families and 97% of small businesses from painful tax increases by asking the top 2% to pay a little bit more. the republicans' plan, on the other hand, is more of the same. not only does 2 balance the budget on the backs of the middle class, it voids our promise to seniors with steep cuts to social security and medicare, all to pay for even more handouts to the rich. at least we now know where they stand. republicans have sought to cover by invok invoking erskine bowle' name. he has disavowed their plan. we're glad to see the republicans join in the negotiating process. while their proposal
the nonpartisan tax policy center called it mat mathematicy impossible to give tax breaks to the rich without harming the middle class. this is something that former president clinton said during the campaign. it's arithmetic. given the choice between the millionaires and billionaires and the middle class, the republicans again sided with the wealthy of this country. their plan doesn't just keep rates low for the richest 2%, it actually lowers them further. the democrats' plan would protect 98%...
52
52
Nov 30, 2012
11/12
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CSPAN2
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eye 52
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no new taxes. you see clint eastwood was dominating republican conventions even then, at least having a hand about the remembered moments of the convention. this was a big deal and it was a big deal because those of us in the media needed some kind of a handle on all these negotiations. we know to support these were talking in may. we need to group data that the white house was the serious people. dimensions of the problem, they were the biggest problem we had at that time, especially before we realized we were going to war in iraq. that particular summer, what we were looking out of the fiscal front was the biggest touring town. we were looking for wonky publications at congressional quarterly that no problem getting readers interested because they were the people who knew. but all the rest of the media really was the handle come in no way to get people interested at all these numbers. there was no way to make a personal for them. but there was an enormous drama in plane of presidents reversal in
no new taxes. you see clint eastwood was dominating republican conventions even then, at least having a hand about the remembered moments of the convention. this was a big deal and it was a big deal because those of us in the media needed some kind of a handle on all these negotiations. we know to support these were talking in may. we need to group data that the white house was the serious people. dimensions of the problem, they were the biggest problem we had at that time, especially before we...
367
367
Dec 3, 2012
12/12
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CSPAN2
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eye 367
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when you find a perfect in the tax code it will have the 18 natural facets. >>host: i love the fact that the herkimer diamond mine is owned by a woman she is amazing. she is passionate6 c13 these beautiful stone and what she does.t the 2 stone we had a chance to catch up with rocker >> herkimer crystal is 500 million years old with the indirect route and in upstate new york formed it literally pushed silica salt and water and into the valley.crystallized into this little pocket.this is called a vug,andy commercially extract we tried to get something something larger than myself and the big pocket it lined with drusy. >>host: there you had it. there the science behind that it is fascinating and it is interestingtalk about these rocks that literally date back 500 million years. that is the outside and inside you have little pockets little cavities with the herkimer form in order for us to create the today's special you go through and sort only the best rough. this is best of the best. it top grade quality is not get better for a hardcover. if you are looking an
when you find a perfect in the tax code it will have the 18 natural facets. >>host: i love the fact that the herkimer diamond mine is owned by a woman she is amazing. she is passionate6 c13 these beautiful stone and what she does.t the 2 stone we had a chance to catch up with rocker >> herkimer crystal is 500 million years old with the indirect route and in upstate new york formed it literally pushed silica salt and water and into the valley.crystallized into this little pocket.this...
97
97
Nov 28, 2012
11/12
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CSPAN2
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eye 97
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their fair share of taxes. we're losing $100 billion a year because corporations and the wealthy are stark their money in the cayman -- are stashing their money in the cayman islands and other havens. defense spending tripled since 1997. we're now spending almost as much as the rest of the world combined. let's take a serious look at defense spending. madam president, you do that, and you make some efficiencies in medicare and medicaid. make them more efficient. not cut benefits. you can move towards serious deficit reduction without cutting social security, without cutting medicare, without cutting medicaid. we just had an election a few years ago -- a few weeks ago. november 6. and what the american people, ii think, said is the time is now for the wealthy to start paying their fair share of taxes. we have seen poll after poll after poll including from some very conservative people who are saying do not cut social security, medicare and medicaid. i think it is time for the united states senate and the congres
their fair share of taxes. we're losing $100 billion a year because corporations and the wealthy are stark their money in the cayman -- are stashing their money in the cayman islands and other havens. defense spending tripled since 1997. we're now spending almost as much as the rest of the world combined. let's take a serious look at defense spending. madam president, you do that, and you make some efficiencies in medicare and medicaid. make them more efficient. not cut benefits. you can move...